Emerald Mutual Fund Advisers Trust Decreases Stake in Tesla, Inc. (NASDAQ:TSLA)

by · The Markets Daily

Emerald Mutual Fund Advisers Trust lowered its position in shares of Tesla, Inc. (NASDAQ:TSLA – Free Report) by 19.8% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 731 shares of the electric vehicle producer’s stock after selling 181 shares during the quarter. Emerald Mutual Fund Advisers Trust’s holdings in Tesla were worth $191,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Bank & Trust Co purchased a new stake in shares of Tesla during the 2nd quarter worth about $25,000. Clean Yield Group boosted its holdings in Tesla by 60.0% in the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after acquiring an additional 48 shares during the period. Abich Financial Wealth Management LLC boosted its holdings in Tesla by 168.8% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after acquiring an additional 81 shares during the period. Valley Wealth Managers Inc. purchased a new position in Tesla in the 2nd quarter worth approximately $26,000. Finally, M&R Capital Management Inc. boosted its holdings in Tesla by 263.2% in the 3rd quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock worth $36,000 after acquiring an additional 100 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on TSLA shares. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $295.00 price target on shares of Tesla in a report on Tuesday, September 10th. Wells Fargo & Company increased their target price on Tesla from $120.00 to $125.00 and gave the company an “underweight” rating in a research note on Thursday, October 24th. UBS Group cut Tesla from a “neutral” rating to a “sell” rating and increased their target price for the company from $147.00 to $197.00 in a research note on Friday, July 12th. Mizuho increased their target price on Tesla from $180.00 to $230.00 and gave the company a “neutral” rating in a research note on Friday, July 12th. Finally, Stifel Nicolaus increased their target price on Tesla from $265.00 to $287.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Eight investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $219.45.

Get Our Latest Analysis on Tesla

Insiders Place Their Bets

In other Tesla news, CFO Vaibhav Taneja sold 8,000 shares of the business’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the sale, the chief financial officer now owns 105,032 shares in the company, valued at approximately $26,258,000. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the transaction, the senior vice president now owns 67,491 shares in the company, valued at $14,967,479.07. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Vaibhav Taneja sold 8,000 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $250.00, for a total value of $2,000,000.00. Following the completion of the transaction, the chief financial officer now owns 105,032 shares in the company, valued at $26,258,000. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 12,297 shares of company stock worth $3,065,866. Company insiders own 20.70% of the company’s stock.

Tesla Trading Down 0.3 %

Shares of TSLA stock opened at $248.98 on Monday. The stock has a 50-day simple moving average of $234.14 and a 200 day simple moving average of $211.15. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $273.54. The stock has a market capitalization of $799.24 billion, a P/E ratio of 68.21, a P/E/G ratio of 8.24 and a beta of 2.29. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA – Get Free Report) last posted its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.14. The firm had revenue of $25.18 billion for the quarter, compared to the consensus estimate of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.53 EPS. On average, sell-side analysts expect that Tesla, Inc. will post 1.96 earnings per share for the current fiscal year.

About Tesla

(Free Report)

Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers electric vehicles, as well as sells automotive regulatory credits; and non-warranty after-sales vehicle, used vehicles, body shop and parts, supercharging, retail merchandise, and vehicle insurance services.

Further Reading

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